24 Hour Fitness Secures $305 Million in Refinancing to Support Long-Term Strategy
Krissy Vann | Host, All Things Fitness and Wellness
24 Hour Fitness has closed on a $305 million senior secured financing facility provided by affiliates of The TCW Group, as the company works to manage upcoming debt maturities and improve liquidity. The transaction includes new capital and revolving commitments and marks a key financial development in the company’s ongoing restructuring efforts.
According to the company, the financing aims to support its long-term strategy, which includes optimizing its club portfolio, maintaining cash flow, and continuing capital investment. The move follows what 24 Hour Fitness describes as “meaningful progress and improved financial performance in recent years.”
“This financing is more than just a capital raise — it is a strong endorsement of our business trajectory and operational momentum,” said Karl Sanft, Chief Executive Officer of 24 Hour Fitness. “It gives us the flexibility to further enhance our club portfolio and member experience. Our leadership team is excited to build on the solid foundation we have created and bring the company to the next level.”
The refinancing makes TCW the company’s largest lender. Existing majority equity holders Monarch Alternative Capital, Sculptor Capital Management, and Cyrus Capital Partners remain in place.
“24 Hour Fitness has demonstrated significant progress in recent years, both operationally and financially,” said Patrick Fallon, Managing Principal at Monarch. “The capital provided by TCW further supports our collective belief in 24 Hour Fitness's strategy, its leadership team, and the tremendous opportunities ahead.”
Credit: 24 Hour Fitness